Blockchain infrastructure company Northern Data has entered into a strategic partnership with SBI Crypto, a subsidiary of Japanese conglomerate SBI Holdings.
Announced on Thursday, SBI Crypto will be hosted on Whinstone’s new data center in Texas being delivered from March 2020. Northern Data was established by merging two companies – Northern Bitcoin and American Whinstone US.
The companies will also collaborate into other areas including projects relating to blockchain technology infrastructure and joint software development and deployment, per the terms of the agreement.
Commenting on the partnership, Aroosh Thillainathan, CEO of Northern Data AG, said: “We are very pleased to have SBI as a great partner and one of the leading international financial and technology holding companies by our side. With its activities to date, SBI Holdings has impressively demonstrated its leadership in the emerging crypto and blockchain industry. This partnership gives us the potential to grow even faster by joining forces.”
Mainstream financial companies into crypto
SBI crypto is a fully owned subsidiary of the financial giant ABI Group and primarily focuses on the digital asset mining business.
The Japanese conglomerate is one of the leading mainstream companies fully . It partnered with an array of major players in the decade-old industry, including Ripple and R3. It also tied with to form an entity called SBI Ripple Asia to promote blockchain-based cross-border transfers in the region.
Last November, the venture arm of SBI also made an , which reportedly is in seven figures.
“We have been planning with Whinstone and Northern Data for the Texas mining farm since early 2019,” Carson Smith, CEO of SBI Crypto, said. “I am excited to see the results and to see a continuing strengthening of our relationship that will benefit the ecosystems we are creating.”